July 31, 2018

Do I need Cyber Insurance?

Written by Rob Hartley

Dinghy Co-Founder

Help you understand the growing need for cyber and why any business that holds customer data should have it

There is no legal requirement to insure your cyber risks from a data breach. However, with European GDPR regulations and tougher fines and requirements to act and respond to a data breach, having proper Cyber Liability insurance in place will help you when you need it.

Dinghy Cyber Liability insurance covers two main areas:

  • We extend your Professional Indemnity insurance to cover any negligence claims that are brought against you for losing customer data
  • We provide a 24/7 breach response service, handled by our market leading insurers Beazley, who will react to close down the breach and secure your data

The costs and time involved in the breach response quickly add up. From having to notify everyone affected, respond to their questions and even pay regulatory fines – all of these are covered by your cyber insurance, up to the limit of insurance provided.

So in a nutshell, if you hold customer data, then you should buy Cyber Liability insurance.

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About Rob Hartley

Rob Hartley ACII has worked in insurance for over 17 years in Europe, USA and the Caribbean. He is inspired to improve the image of insurance and bring it back to being a social good. Having also worked as a freelance web developer and an insurance consultant he is passionate about improving insurance for freelancers. In 2017 he co-founded getdinghy.com, an insurance provider that specialises in freelancer insurance.

Read more blog posts by Rob Hartley

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